New York State Common Retirement Fund Has $230.42 Million Holdings in PepsiCo, Inc. $PEP

New York State Common Retirement Fund lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,640,712 shares of the company’s stock after selling 110,956 shares during the period. New York State Common Retirement Fund owned about 0.12% of PepsiCo worth $230,422,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Three Bridge Wealth Advisors LLC lifted its stake in PepsiCo by 1.8% in the 3rd quarter. Three Bridge Wealth Advisors LLC now owns 3,870 shares of the company’s stock valued at $544,000 after acquiring an additional 68 shares in the last quarter. JSF Financial LLC raised its holdings in shares of PepsiCo by 3.8% in the second quarter. JSF Financial LLC now owns 1,897 shares of the company’s stock valued at $250,000 after purchasing an additional 69 shares during the last quarter. Facet Wealth Inc. lifted its position in shares of PepsiCo by 3.2% in the third quarter. Facet Wealth Inc. now owns 2,221 shares of the company’s stock worth $312,000 after purchasing an additional 69 shares in the last quarter. Hudock Inc. boosted its holdings in PepsiCo by 1.0% during the third quarter. Hudock Inc. now owns 7,079 shares of the company’s stock worth $994,000 after purchasing an additional 70 shares during the last quarter. Finally, Binnacle Investments Inc grew its position in PepsiCo by 33.2% in the second quarter. Binnacle Investments Inc now owns 285 shares of the company’s stock valued at $38,000 after purchasing an additional 71 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PEP shares. Rothschild & Co Redburn boosted their price target on shares of PepsiCo from $117.00 to $120.00 and gave the stock a “sell” rating in a research report on Monday, December 15th. Bank of America lifted their target price on PepsiCo from $150.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. UBS Group reduced their price target on PepsiCo from $172.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, January 14th. Exane BNP Paribas raised PepsiCo from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. Finally, The Goldman Sachs Group upped their price objective on PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $159.29.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $148.50 on Thursday. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. The business’s 50 day moving average price is $145.74 and its two-hundred day moving average price is $145.30. The company has a market cap of $203.05 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 4.89 and a beta of 0.42. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $160.15.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th were issued a dividend of $1.4225 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $5.69 annualized dividend and a yield of 3.8%. PepsiCo’s dividend payout ratio (DPR) is currently 108.17%.

About PepsiCo

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.